Assuming it's tax free, I do this:
1. Pay down all debts including mortgage.
2. Invest in tax-free muni bonds to generate 4-5% cash flow to cover all other expenses. That allows you not to work so you have time to fish/golf.
3. Travel the world to fish/golf some of the most famous places in the world.

I'm a Benedictine monk (seriously), so I'm tied to a particular monastery and would have to spend my 1.5 million with that in mind. That means spending it locally. So here goes...

One thing we don't have is a getaway place for doing private retreats and gaining solitude. We once owned an old farm with a large, stone house capable of housing up to twenty people. I'd purchase it back along with a couple of ponds and farmland surrounding it.

We do have a large piece of property near it with a good-sized pond, woods, pasture, and cropland. If I couldn't get the farmhouse, I'd build a cabin/lodge type of place there. In both cases, the ponds need dredging, some stocking, etc. I'd also improve the habitat for deer, turkey, and upland bird hunting. If there's anything left over, I'd purchase some of the surrounding property.

This reminds me of a story I experienced many years ago in Alaska. The same question came up one evening. The first guy said he'd pay off his home, do a bit more traveling and buy some new fishing gear.

The second fisherman would buy a new boat, pay off some debts...

Turning to the owner of the lodge, we expected pretty much the same answer... Insted he leand back, took a sip of his beer and said; "Well, I have this fishing lodge I always wanted. The fishing is great. You visiting anglers have me booked solid every summer. I'm my own boss, I run my own business.... I figure I'd just keep doing what I'm doing now.... till all the money ran out."

No, no, that is happening all over the the West right now. There are legal battles in Oregon, Wyoming and maybe Montana. People with money are buying up land on both sides of our rivers and trying to stop anyone from trespassing or fishing on the water. Some have went so far as to say you can't even drop an anchor from a boat. It is a good thing that you are not going to get a river for 1.5 mill.

No, no, that is happening all over the the West right now. There are legal battles in Oregon, Wyoming and maybe Montana. People with money are buying up land on both sides of our rivers and trying to stop anyone from trespassing or fishing on the water. Some have went so far as to say you can't even drop an anchor from a boat. It is a good thing that you are not going to get a river for 1.5 mill.

Frank

This is true here in Montana, and the many who are saying you cannot step foot on "their river" laugh at $1.5 million like it was $.50! Lucky for us up here we still have our wonderful stream access law which is always debated every legislative session. Might not be here tomorrow, but at least we have it today.